Federated Hermes Inc. Sells 102,504 Shares of Axalta Coating Systems Ltd. $AXTA

Federated Hermes Inc. cut its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 30.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 238,224 shares of the specialty chemicals company’s stock after selling 102,504 shares during the period. Federated Hermes Inc. owned 0.11% of Axalta Coating Systems worth $6,818,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AXTA. Ilex Capital Partners UK LLP bought a new stake in shares of Axalta Coating Systems during the 2nd quarter valued at $60,571,000. AQR Capital Management LLC raised its holdings in Axalta Coating Systems by 301.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,319,863 shares of the specialty chemicals company’s stock worth $68,877,000 after purchasing an additional 1,742,203 shares during the period. Qube Research & Technologies Ltd lifted its position in Axalta Coating Systems by 44.3% during the second quarter. Qube Research & Technologies Ltd now owns 3,535,462 shares of the specialty chemicals company’s stock valued at $104,968,000 after purchasing an additional 1,085,466 shares in the last quarter. Norges Bank purchased a new position in Axalta Coating Systems during the second quarter valued at $31,708,000. Finally, Jane Street Group LLC grew its holdings in Axalta Coating Systems by 486.1% during the second quarter. Jane Street Group LLC now owns 915,051 shares of the specialty chemicals company’s stock valued at $27,168,000 after purchasing an additional 758,929 shares during the period. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Stock Down 0.1%

NYSE AXTA opened at $33.54 on Tuesday. The stock’s 50 day moving average is $31.98 and its 200 day moving average is $30.26. The company has a current ratio of 2.20, a quick ratio of 1.59 and a debt-to-equity ratio of 1.45. Axalta Coating Systems Ltd. has a 12 month low of $26.28 and a 12 month high of $38.37. The stock has a market cap of $7.16 billion, a PE ratio of 16.05, a P/E/G ratio of 1.35 and a beta of 1.29.

Analyst Ratings Changes

Several research firms have recently commented on AXTA. Citigroup raised their price objective on Axalta Coating Systems from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. UBS Group lowered shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $39.00 to $35.00 in a report on Monday, January 12th. Vertical Research cut shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Axalta Coating Systems in a report on Wednesday, January 21st. Finally, KeyCorp reiterated a “sector weight” rating on shares of Axalta Coating Systems in a research report on Wednesday, October 29th. Seven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.56.

Axalta Coating Systems Profile

Axalta Coating Systems is a global leader in the development, manufacture and sale of liquid and powder coatings. The company’s product portfolio spans refinish coatings for the automotive collision repair market, original equipment manufacturer (OEM) coatings for new vehicle production, and industrial coatings including electrodeposition (E-coat) and powder coatings for a variety of sectors such as architecture, heavy equipment and general industrial applications.

Tracing its roots to the 19th century and rebranded as Axalta following its separation from DuPont Performance Coatings in 2013, the company has built a presence in more than 100 countries.